Wheat stocks in India’s government warehouses will fall by about 13% by early next month from current levels but will be sufficient for welfare schemes of the country, the ministry of consumer affairs and food said on Thursday.
Wheat stocks in government warehouses for December fell to the lowest in six years, as prices jumped to a record high on rising demand and falling inventories. India, the world’s second-biggest wheat producer, placed a ban on its exports in May.
About 15.9 million tonnes of wheat will be available as of Jan. 1, higher than the buffer requirement of 13.8 million, according to a government statement. Around 18.2 million tonnes are available as of now.
The government said there had been a “fair increase in the sowing of wheat crop as compared to last year”, which should boost stocks in the next procurement season beginning April.
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